Author: Stephen Katte, CoinTelegraph; Translated by: Tao Zhu, Jinse Finance
According to data from the online analytics platform Santiment, the holdings of Ethereum whale wallets reached an all-time high, accounting for about 57% of the total existing Ethereum supply.
In an article sent to X on December 16, the platform stated that 104 whale wallets each hold over 100,000 Ethereum, totaling about $333 billion.
Wallets holding between 10 and 100,000 Ethereum are at a historical low of 33.5%, while the supply ratio of wallets holding fewer than 100 Ethereum is only 9.19%, reaching a nearly four-year low, all of which may be a long-term bullish sign, especially if whales continue to accumulate.
Source: Santiment
Santiment states: 'It is important to note that the second largest market cap ETH increasingly exists in DeFi and staking wallets, and this is usually still a bullish long-term signal when the most significant stakeholders of the token continue to accumulate.'
It adds: 'Especially since it is an asset that has been around for 9 years, the proportion of tokens held by whales has reached a historical high.'
Analysts predict that Ethereum will rise as wallet addresses hit an 8-month high.
According to Santiment, in December last year, the daily average number of new Ethereum addresses exceeded 130,200, reaching an 8-month high.
According to CoinMarketCap, Ethereum's price broke the $4,000 mark for the first time since March on December 7, with the current trading price at $4,007.
Compared to the historic high of $4,891 set on November 16, 2021, it is still down 17%.
Some analysts predict that Ethereum's price may break historical highs in Q1 2025, partly due to the deleveraging in the crypto market last month.
Market sentiment points to Bitcoin and altcoins.
In another article on December 16, Santiment stated that Bitcoin reached an all-time high of $107,800, and Ethereum exceeded $4,000, which 'triggered more bullish sentiment', but its market sentiment tracker shows that Bitcoin, Vanachains (VANA), and Moca Networks (Moca) are the current hot topics.
Due to Bitcoin's historic high of $100,000 on December 6 and the subsequent new highs, Bitcoin is being discussed.
Santiment noted: 'Discussion has once again focused on Bitcoin's dominance in the cryptocurrency market and its impact on altcoins.'
Currently discussing VANA's listing on major exchanges, its release on Binance Launchpool, and the situation of custodial trading and token sales.
Meanwhile, according to Santiment, after MOCA was listed on major exchanges in South Korea, its price surged by 95% in the past 7 days, making it a hot topic among traders.
Santiment's social tracker searches through cryptocurrency-specific social media channels like X and Telegram for the top 10 words with the biggest increase in mentions compared to the previous two weeks.
